Gasoline Hits Record High – $4.75 – $5.11/gallon

The news that Japan is the first to make biodiesel fuel from grass, wood chips may be music to the ears of many in the land of the Rising Sun as the average retail price for gasoline hit a record high for the second week in a row – 145.4 yen to a liter – ($4.75/gallonish) for the cheap stuff. 

Premium gasoline is $5.11/gallon and diesel fuel also hit a record $4.03/gallon.

The high price of gasoline coincides with the August vacation

season when demand is high. There is no coincidence there, I think.

Shouldn't things be cheaper when more people are buying?…Unless demand far exceeds supply, I suppose.

Relief is expected to come by the end of this month as crude oil prices have dropped and domestic oil refineries are boosting capacity.

What's the most you ever paid for gasoline?  The least?

Back in the dark ages, I paid 0.249 a gallon during the gas wars. I filled my VW Beetle up for $2.00. Filled her up for $2.00.